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We proposed a nanocomposite barrier CoO-ZnO for magnetism manipulation in Co/CoO-ZnO/Ag heterojunctions. Both electrical control of magnetism and resistive switching were realized in this junction. An electrical tunable exchange bias of CoO1-v (v denotes O vacancies) on Co films was realized using voltages below 1 volt. The magnetism modulation associated with resistive switching can be attributed to the oxygen ions migration between the insulating CoO1-v layer and the semiconductive ZnO1-v layer, which can cause both ferromagnetic phase and resistance switching of CoO1-v layer.